Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 250 Revenue ($390.00q) $ 97,500 Expenses: Wages and salaries ($11,200 + $124.00q) 42,200 Supplies ($5.00q) 1,250 Equipment rental ($2,000 + $21.00q) 7,250 Insurance ($3,900) 3,900 Miscellaneous ($500 + $1.48q) 870 Total expense 55,470 Net operating income $ 42,030 During May, the companys actual activity was 240 diving-hours. Required: Prepare a flexible budget for May.